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gulf-condo-investment Gulf Front Investment Condos
90% of the Units have Direct Gulf Views
Complete Turn Key - Rental Management on Site

Appx Annual Rental Income 6 to 9%.after mgt fee
Low End Appx Annual Appreciation 10 to 15%
600 feet of Gulf Beach in front of the Complex

Excercise Room, Two Swimming Pools, Gift Shop, Restaurant, Beach Bar, Bell Hops, Room Attendents
Gulf-Condo-Investments Gulf Beaches Florida Condos For Investment
PHASE ONE SOLD OUT
Annual Revenue Stats Available
Contact Us For Full Details Here

As an Investment -One of the points that makes this property particularly appealing is that it is has operated for more than 40 years as a successful hotel. In 2004, its occupancy rate was 75.8%, and occupancy for 2005 year-to-date is 78.9%.

Construction Status - Because this condo hotel is a conversion and not out-of-the-ground new construction, the turnaround time is pretty quick. That makes this property a prime candidate for a 1031 exchange, but as always, please check the suitability with your accountant and attorney.

The renovation is well under way, and Phase I units are available now. Here's the construction status:
Phase I - Completed  -   Phase II - Expected completion is August 2005   -   Phase III - Expected completion Dec 2005

To Purchase a Unit
The State of Florida has just approved the condo documents, so the they are ready to go to contract.
A total of 20% cash down is required per the following payment schedule:

Phase I - $5,000 is due at time of contract, 20% is due by the end of the 15 day contract rescission period. Closing is anticipated to be late July/early August 2005.

Phase II - $5,000 is due at time of contract, 10% is due in 30 days. The remaining 10% is due 30 days later. Closing is anticipated to be September/October 2005.

Phase III - $5,000 is due at time of contract, 10% is due at the time Phase III construction begins (anticipated to be late August, early September 2005). The remaining 10% is due 60 days later. Closing is anticipated to be December 2005/January 2006.

Special Developer Incentive
The developer has decided to offer a special incentive for a limited time to buyers of units in Phase I. This offer will be a credit at closing to help buyers with their acquisition and closing expenses. The credits range from $6,000 to $35,000.

Prices - The Beach Resort has a wide variety of size and configurations of units. Over 90% of the units directly face the Gulf. The 10% that don't, overlook the pool and are priced lower. Below is an overview of the range of the current prices:
Studios: $209,900 - $279,900
Deluxe Efficiencies: $174,900 - $379,900
One bedroom suites: $429,900
Efficiencies with connecting bedroom: $449,900 - $479,900
Two-bedroom, two bath suite: $599,900
Three Penthouses: $649,900 - $699,900
Direct Gulf-front ADA rooms: $204,900 - $354,900

The Rental Program - Condo hotel unit owners who choose to participate in the on-site rental program get up to 42 days of usage, depending on the plan they choose. The rental revenue split for owners ranges from 50% - 54%, depending on the rental plan selected.

Appreciation - When considering an investment, it's necessary to take a look at the real estate nearby.
Between 1998 - 2003 real estate appreciated 93% (an average of 18.6% per year), according to The St. Petersburg Times. In 2004, property values went up 21.5%. Locals think 2005 could come in even higher, as demand for homes in their areas have increased noticeably -- especially waterfront and Gulf-front -- they can't make any more beach.
The above material was sent to us by the developer and marketing company.

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